Published Date : 24 Mar 2023
The size of the global stem cell market is set to hit almost USD 17.79 billion by the end of 2027 and is poised to grow at a CAGR of 8.61% between 2020 and 2027.
Stem cells, are undifferentiated cells that can replicate and give rise to both stem cells that will remain and differentiate (become specialized). Stem cells are of tremendous interest because they can be utilized to create treatments to replace cells that have been destroyed or dysfunctional due to several illnesses and injuries, including Parkinson's disease, heart disease, and diabetes.
The increase in research activities concentrating on the creation, storage, and characterization of stem cells in addition to the expansion of the industry in terms of revenue as a consequence of increased demand for stem cell banking. Technology developments in the parent and auxiliary markets for stem cell usage represent other aspects that promote the predicted rise in demand for stem cells throughout the projected timeframe. For instance, Cellino Biotech, a manufacturer of cell treatment products, obtained USD 80 million in a Series A investment round in January 2022. By constructing the first autonomous human cell foundry in 2025, Cellino hopes to increase access to stem cell-based medicines.
Stem Cell Market Report Scope
|Market Size in 2022||USD 11.19 Billion|
|Projected Forecast Value in 2027||USD 17.79 Billion|
|Growth Rate||8.61% from 2020 to 2027|
|Largest Market||North America|
|Forecast Period||2020 to 2027|
|Segments Covered||By Product, By Application, By Technology, and By Therapy|
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
North America, which overall controlled the business, received the largest share of the worldwide stem cell market from the United States. In the US and Canada, comprehensive healthcare systems are in place. Also, these platforms aid in research and innovation. The growing number of cancer patients is creating opportunities for industry participants. The leading market players are concentrating their R&D efforts on developing novel stem cell therapies. In addition, the American Cancer Society predicts that in 2022 there will be 1,918,030 new instances of cancer in the country, along with 609,360 recorded fatalities.
In contrast, the Asia Pacific region is expected to expand at a quick rate of XX% CAGR between 2023 and 2032 as a result of robust product pipelines for stem cell-based treatments and a sizable patient pool. Due to the rising prevalence of illnesses such as cancer, neurological disorders, and diabetes, the stem cell industry is expected to expand quickly. Government financing to speed up research on stem cells is another factor supporting this region's development.
Spread knowledge on stem cell preservation
The exciting idea behind the expanding stem cell banking industry is to keep stem cells at their peak potency until they are potentially needed later in life to fight disease. A business that includes the preservation of adult stem cells is mushrooming around the banking of stem cells from a baby's umbilical cord blood and tissue. One day, those adult stem cells might be applied in regenerative medicine treatments. Compared to stem cells from other sources, such as the bone marrow, umbilical cord stem cells are more youthful and active, which allows them to differentiate more quickly. Consider it the main template.
High operational cost of stem cell banking
Throughout the projected period, the market for stem cell banking will face significant challenges due to its high operating expenses. Patients are unable to pay these costs, which prevents new suppliers from entering the market. processing the sample, evaluating its quality and ability to be preserved, and storing it. They are not covered by the cost of buying and maintaining expensive instruments, reagents, and consumables. As a result, service providers incur substantial operational costs.
R&D efforts to create stem cell treatments are expanding.
The pharmaceutical and biopharmaceutical industries will considerably accelerate the market's growth throughout the forecast period by increasing their stem cell-based research and development. Growing R&D efforts to develop stem cell therapies, rising approvals for clinical trials in stem cell research and factors including increased awareness of umbilical cord stem cells and the rising desire for regenerative treatment options are all contributing to the market's expansion.
Scale-up manufacturing restrictions on a technical level
Manufacturers find it extremely difficult to scale up their stem cell production capabilities because of the technical difficulties involved with multiple manufacturing steps, such as stem cell identification, isolation, storage, and preservation.
Major Key Players:
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